Immatics N.V. Ordinary Shares - IMTX STOCK NEWS

Immatics N.V. (NASDAQ: IMTX) announced promising preclinical results for its T cell engaging receptor IMA402, targeting the cancer-associated antigen PRAME, at the ESMO Congress 2022. IMA402 demonstrated enhanced anti-tumor activity in vivo and favorable safety profiles in vitro. With a half-life of over one week, it is expected to allow for effective dosing in patients. The Phase 1/2 clinical trial is set to commence in 2023, with the submission of the Clinical Trial Application planned for Q2 2023, positioning IMA402 as a significant advancement in TCR bispecific therapies.

Immatics announced the initiation of patient treatment in its Phase 1b expansion cohort C for IMA203CD8, a 2nd generation TCR-T monotherapy that targets PRAME in solid tumors. This treatment employs a proprietary CD8αβ co-receptor, enhancing T cell activation. Preclinical results indicated improved anti-tumor activity. The cohort aims to assess IMA203CD8's safety and initial efficacy, with 24 patients expected to be enrolled. Interim data from previous trials showed a 50% objective response rate across various solid tumors. The study is part of a broader multi-cohort strategy.

Immatics N.V. (NASDAQ: IMTX) has initiated patient enrollment in three Phase 1b cohorts for its ACTengine® TCR-T cell therapy targeting PRAME. A multi-program collaboration with Bristol Myers Squibb includes a $60 million upfront payment and potential milestone payments nearing $700 million. The company's financial results for Q2 2022 show a revenue increase to €17.2 million and a net loss reduction to €14.0 million. Cash reserves total €324.4 million, funding operations through the second half of 2024. Expanded collaborations and clinical trials mark continued growth in cancer immunotherapy development.

Bristol Myers Squibb (NYSE:BMY) reported Q2 2022 revenues of $11.9 billion, a 2% year-over-year increase, or 5% when adjusted for foreign exchange. GAAP EPS rose 40% to $0.66, while non-GAAP EPS reached $1.93, mainly impacted by ($0.14) per share from Acquired IPRD charges. 11% revenue growth was noted in in-line products. The company reaffirmed non-GAAP EPS guidance for 2022 while adjusting GAAP EPS guidance. Additionally, they announced plans to acquire Turning Point Therapeutics (NASDAQ:TPTX) for $4.1 billion, expanding their precision oncology portfolio.

Immatics reported significant advancements in its clinical programs, specifically in its IMA203 and IMA401 trials. Patients have commenced treatment in two Phase 1b cohorts, with IND approval for the third cohort. Furthermore, a strategic partnership with Bristol Myers Squibb includes a $60 million upfront payment and potential milestones exceeding $700 million per program. Financially, Immatics reported a net income of €85.7 million for Q1 2022, a notable increase from a loss of €22.8 million in Q1 2021, largely due to collaboration revenue recognition.

Immatics announced a strategic alliance expansion with Bristol Myers Squibb to develop multiple allogeneic TCR-T/CAR-T programs. Immatics will receive an upfront fee of $60 million plus up to $700 million in milestone payments per program, alongside tiered royalties on net sales. This collaboration enhances Immatics’ ACTallo^® platform, utilizing gamma delta T cells, and includes an additional TCR target from their 2019 agreement with a $20 million upfront payment. This partnership aims to innovate cancer treatments for solid tumors.

Immatics and Bristol Myers Squibb have expanded their strategic collaboration to develop allogeneic TCR-T and CAR-T therapies. Immatics will receive an upfront payment of $60 million, with additional milestone payments of up to $700 million for each program, along with tiered royalties. The partnership will leverage Immatics’ ACTallo® platform and Bristol Myers Squibb’s oncology expertise, focusing on multiple programs. Additionally, an autologous TCR-T target will be added under their existing 2019 agreement, granting Immatics a further $20 million upfront.

Immatics N.V. (NASDAQ: IMTX) announced the initiation of a Phase 1b dose expansion cohort for its IMA203 TCR-T therapy in combination with Bristol Myers Squibb’s nivolumab, targeting solid tumors. This follows positive interim results from the Phase 1a trial. The study aims to assess safety and anti-tumor activity across up to 18 patients at 10 U.S. and German sites. Data read-outs for this combination and other ongoing studies are expected by year-end 2022, which is crucial for future clinical development.

Immatics has launched a Phase 1 clinical trial of IMA401, a T cell engaging receptor (TCER®) aimed at treating patients with recurrent and/or refractory solid tumors. The trial, which has begun patient enrollment at its first site in Germany, seeks to evaluate the safety, tolerability, and initial anti-tumor efficacy of IMA401. This candidate targets MAGEA4/8 peptides and will be developed in collaboration with Bristol Myers Squibb, emphasizing Immatics' commitment to advancing innovative immunotherapies.